1. A TRANSFORMATIVE INVESTMENT IN CALIFORNIA’S FUTURE Dan Richard, Chair California Passenger Rail Summit April 29, 2015 Sacramento, CA

2. California is the 8th Largest Economy in the World Comparable to Northeast Corridor in Terms of Distance, Population and Complexity Transformative Investment in our Transportation Network Connecting all California Population Centers HIGH-SPEED RAIL: More Than A Transportation Program

3. Transformative Projects Have Never Been Easy Golden Gate Bridge: »“Upside-Down Rat Trap that will Mar the Beauty of the Bay” »2,000 Plus Lawsuits BART: Called the Train to Nowhere University of California System & California State Water Project: »Single Vote Margins Where would California be without these? CHALLENGES OF TRANSFORMATIVE PROJECTS

4. Curbs Congestion »LAX to SFO is the Busiest Short-Haul Market in US »1 in 6 Flights out of LA Heads to Bay Area »Six of Top 30 Congested Urban Areas in US Located in California Population Growth »Estimated to Reach 50 Million by 2050 Air Quality/Sustainability »Meets Goals of AB 32/SB 375 »Worst Air Communities in the Country Alternatives are Costly »2-3 Times More Expensive WHY HIGH-SPEED RAIL IN CALIFORNIA?

5. CONNECTING CALIFORNIA Initial Operation Section: »300 Miles »Merced to Burbank Phase I: »520 Miles »San Francisco to Los Angeles/Anaheim Regional Improvements »Caltrain Electrification »LA Union Station Passing Tracks »Positive Train Control »Grade Separation

6. Must Provide a One-Seat Ride from SF to LA in 2 Hours and 40 Minutes Must be Capable of Operating at Speeds up to 200 MPH Must Operate Without a Subsidy Must Connect the State’s Major Cities Eventual Extensions to San Diego and Sacramento KEY PROGRAM COMPONENTS

7. Our System will Tie California Economies Together: »Within & Between Regions »Smaller Cities to Major Markets »Expand Location Decisions »Link Suppliers, Manufactures, Shippers and Customers CONNECTING CALIFORNIA

8. Funding: »$3.3 Billion Federal and $4.7 Billion Prop 1A »25% of Future Cap and Trade Proceeds Environmental Clearances: »Merced to Fresno: May 2012 »Fresno to Bakersfield: June 2014 Construction Packages: »CP 1: Executed in August 2013, Under Estimates »CP 2-3: Contract Execution Expected in Spring 2015 »CP4: Five Teams Qualified to Bid Official Groundbreaking in January Work is Underway KEY PROGRAM MILESTONES

9. Conservation & Preservation of Agricultural Land »Department of Conservation Solicits Farmland Mitigation Proposals »5,000 Acres of Permanent Easements in the Central Valley Tier 4 Construction Equipment: »Engines Meet Nation’s Most Stringent Standards Substantial Mitigation Measures: »Lazy K Mitigation Site »RFP for Habitat Mitigation in Central Valley Voluntary Emissions Reduction Agreement (VERA): »MOU with San Joaquin Unified Air Pollution Control District »Zero Net Emissions »Replaces Aging Equipment Including Tractors and Irrigation Pumps KEY ENVIRONMENTAL MILESTONES

10. Targeting: California Construction: Direct, Indirect Jobs in Hard-Hit Sectors Permanent: Rail Modernization Creates Efficiencies Statewide and Presents New Economic Opportunities CONNECTING CALIFORNIA: JOBS

11. 30% Goal for Small Business Participation »10% Disadvantaged Business Enterprises (DBE) »3% Disabled Veteran Business Enterprises (DVBE) SMALL BUSINESS PROGRAM

12. Support and Educate Others on this Transformative Investment in California’s Future #Iwillride Social Media Campaign »Engage & Educate #Iwillride Youth Advocacy Campaign »Increase Millennial Support SOCIAL MEDIA: #IWILLRIDE

13. THANK YOU Dan Richard, Board of Directors Chair (916) 324-1541 boardmembers@hsr.ca.gov Headquarters California High-Speed Rail Authority 770 L Street, Suite 800 Sacramento, CA 95814 www.hsr.ca.gov facebook.com/CaliforniaHighSpeedRail twitter.com/cahsra youtube.com/user/CAHighSpeedRail